Alston & Bird Consumer Finance ABstract

Key Provisions of the CARES Act Affecting Mortgage Servicers

By , , and

Mortgage Loan

A&B ABstract: In response to COVID-19, on Friday March 28, 2020, President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”).  This is a monumental $2 trillion stimulus package intended to provide financial relief to businesses, individuals and public institutions affected by the coronavirus.  The CARES Act addresses sweeping economic stabilization, small business lending and other direct financial support, tax provisions, healthcare, or … [Continue reading] about Key Provisions of the CARES Act Affecting Mortgage Servicers

Federal Administrative Agencies Issue COVID-19 Guidance

By

A&B ABstract:  On March 26, the Consumer Financial Protection Bureau (“CFPB”) issued three separate policy statements in response to the COVID-19 pandemic.  These announcements recognize the operational and resource challenges companies are … [Continue reading] about Federal Administrative Agencies Issue COVID-19 Guidance

Federal and State Guidance Regarding the COVID-19 Pandemic

By

Residential Mortgage

A&B Abstract: The Alston & Bird Consumer Finance team recognizes that this is a period of great uncertainty both for the nation and our clients. We have received numerous questions and concerns regarding what federal and state regulators … [Continue reading] about Federal and State Guidance Regarding the COVID-19 Pandemic

New York Governor Provides Temporary Authority for Video Notarizations

By and

On March 19, New York Governor Mario Cuomo issued Executive Order No. 202.7, "Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency" (the "Order"). The Order Notably, effective through April 18, 2020, the Order … [Continue reading] about New York Governor Provides Temporary Authority for Video Notarizations

New York Financial Regulator Requires COVID-19 Risk Assessment, Operational Planning

By and

State Capital

Last week the New York Department of Financial Services (the “Department”) issued letters to all its licensed financial institutions. Based on these letters (available here and here), all Department licensees must assess and plan for the financial … [Continue reading] about New York Financial Regulator Requires COVID-19 Risk Assessment, Operational Planning